Trying to ""Count"" the number of selections in a multi-select text field

I'm not sure if this is the best way to do it, but I did figure a way. It requires a bit of maintenance to the formula as products are added to the list, but here's what I did, in case it's helpful to anyone:

My [ERP Products] field is a multi-select text
Created a new Formula Text field [ERPProductsText]
List:
� Product1
� Product2
Formula: ToText(ERPProductsText]
Will result in:
Product1;Product2

Create a Formula - Numeric field [ProductCounter]
Sum(
If (Contains([ERPProductsText],"Product1"),1,0),
If (Contains([ERPProductText],"Product2"),1,0)
)

For every new entry in the Product list, a new line is needed in the counter formula.